Danske Research Team
Danske Bank A/S
Majors
EUR/USD: LONG AT 1.3820 FOR REVISED 1.3906; STOP AT 1.3778
USD/JPY: LONG AT 102.20 FOR 103.05; STOP AT 102.05
GBP/USD: LONG AT 1.6700 FOR REVISED 1.6917; STOP AT 1.6740
USD/CHF: POSS BUY
AUD/USD: LONG AT .9350 FOR .9523; STOP AT .9290
USD/CAD: LONG AT 1.0970 FOR 1.1078; REVISED STOP AT 1.0940
Crosses
EUR/JPY: LONG AT 141.40 FOR 142.85 OBJECTIVE, STOP 140.89
EUR/GBP: SELL AT .8245 FOR .8157; STOP AT .8290
EUR/CHF: SHORT AT 1.2170 FOR 1.2102; STOP AT 1.2210
EUR/CAD: LONG AT 1.5205 FOR 1.5445; STOP AT 1.5095
GBP/JPY: LONG AT 169.90 FOR 173.15; STOP AT 171.40
NZD/USD: LOOK TO BUY WHILE SUPPORT AT .8515 HOLDS
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EUR/USD is paring gains to near 1.0700 in the European session on Monday. The pair stays supported by a softer US Dollar, courtesy of the USD/JPY sell-off and a risk-friendly market environment. Germany's inflation data is next in focus.
USD/JPY recovers after testing 154.50 on likely Japanese intervention
USD/JPY is recovering ground after sliding to 154.50 on what seemed like a Japanese FX intervention. The Yen tumbled in early trades amid news that Japan's PM lost 3 key seats in the by-election. Focus shifts to the US employment data and the Fed decision later this week.
Gold price bulls move to the sidelines as focus shifts to the crucial FOMC policy meeting
Gold price struggles to capitalize on its modest gains registered over the past two trading days and edges lower on the first day of a new week, albeit the downside remains cushioned.
Ripple CTO shares take on ETHgate controversy, XRP holders await SEC opposition brief filing
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Week ahead: FOMC and jobs data in sight
May kicks off with the Federal Open Market Committee meeting and will be one to watch, scheduled to make the airwaves on Wednesday. It’s pretty much a sealed deal for a no-change decision at this week’s meeting.